With the recent announcement by the Saudi capital market of four IPOs in April 2009, Islamic finance is riding high. The traditional values of Islamic finance are growing in appeal for Western investors seeking a safe haven from the current financial storms. With capital market regulators in the Middle East working hard to improve the region’s regulatory system and to offer a wider range of Shariah-compliant investment vehicles, new opportunities are opening up. Arthur D. Little identifies the
markets and countries that Western financial institutions should focus on in 2009 if they do not want to miss out.